KUALA LUMPUR, Oct 14 — Selangor has attracted potential investment exceeding RM3 billion from four foreign investors through Letters of Intent (LOIs) facilitated by UOB Malaysia to Invest Selangor, reflecting the investors’ strong interest in exploring business and growth opportunities in the state.

The Selangor International Business Summit (SIBS) 2026 today witnessed the presentation of several LOIs from foreign investors, namely Shenghui Biotechnology (Malaysia) Sdn Bhd, Galaxy Data Centre, XTC New Energy and Wuxi Weifu Environmental Catalysts Co. Ltd.

Raja Muda Selangor Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj graced the event, which was attended by Selangor Menteri Besar Datuk Seri Amirudin Shari.

Amirudin, in his address, said Selangor is not for cheap land or labour, but for long-term partnerships and Malaysia’s brightest minds.

“If you are looking for cheap land or cheap labour, Selangor is not the place.

“But if you want to develop long-term partnerships and want Malaysia’s brightest minds as your workforce and development team, I urge you to look at Selangor,” he said.

Meanwhile, he said economic resilience cannot be built in isolation, as true prosperity depends on regional collaboration rather than zero-sum competition.

“Southeast Asia stands at a historic inflection point. With a young, dynamic population of over 680 million people, Asean is rapidly emerging as the epicentre of global economic growth.

“The world is looking to our region not merely for resources, but for partnership and market access. Alongside Africa, Asean is the fastest-growing region on earth,” he said.

Amirudin said Malaysia has long been a heavyweight in packaging and testing, but Selangor is charting a new path into the most valuable segments of the semiconductor value chain: front-end integrated circuit (IC) design, electronic design automation (EDA) and intellectual property creation.

“Initiatives such as the Malaysia Semiconductor IC Design Park in Puchong represent our commitment in concrete terms.

“We are not waiting for technology transfer to trickle down; we are building the incubators, providing the high-performance computing infrastructure, and upskilling local engineers to design world-class chips right here on Selangor soil.

“We want the next generation of semiconductors powering global artificial intelligence to be conceived, developed, and brought to life in this state,” he said.

SIBS 2026 opened today at the Kuala Lumpur Convention Centre (KLCC) and runs from 14 to 17 October 2026, bringing together investors, industry leaders, government representatives, and the wider business community from Malaysia, the Asean region, and beyond.

Organised by Invest Selangor Bhd and hosted by the Selangor State Government, SIBS 2026 is themed “Selangor, the Gateway to Asean” and features 526 booths, showcasing international participation from countries including Singapore, Indonesia, Japan, the Philippines, Thailand, India, Germany, the United States, China, Taiwan, Bangladesh, Kenya, Sri Lanka, Brazil and Vietnam.

The four-day event targets 50,000 visitors and RM8 billion in potential transaction value. It is supported by a Hosted Delegates Programme involving 110 delegates, while 188 speakers will contribute to discussions across nine specialised conference programmes. — Bernama